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Albertans still wary of state of economy

Albertans still wary of state of economy

Posted on: 3/7/2018 | Author: ATB Financial's Economics + Research Team

​​After two years of contraction, Alberta’s economy started growing again in 2017 and is expected to continue the trend. This return to growth has been accompanied by some improvement in how Albertans view the provincial economy, though the mood overall is still negative.

In January 2017, ATB Financial launched a quarterly survey to gauge how Albertans view the provincial economy. Participants are asked to rate their sentiments using a scale of zero (very bad) to ten (very good).

As of January 2018, only eight per cent of respondents put the provincial economy on the very good end of the scale (a rating of eight or higher). This is up from the just four per cent who saw things this way in January 2017. At the other end of the scale, 21 per cent feel the provincial economy is still in pretty bad shape (a rating of two or lower). This is an improvement over the 38 per cent who felt this way a year ago.

On a national scale, we are slightly more bullish, with 10 per cent giving the national economy an 8 or higher and 14 per cent giving it a 2 or lower in January 2018.

While things are looking up in terms of Alberta’s GDP growth, it is going to take some time before more Albertans feel enough of a difference to start rating the economy on the higher end of the scale.

Data collection was done via the Ipsos iSay Panel of Albertans aged 18 years of age or older. Quota sampling and weighting were employed to ensure that the sample reflects the overall population according to census data. N=1000. The data are considered credible within +/- 3.5 points.

Economic sentiment, graph​ ​

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